Deals
CNPC Said Set to Buy $5 Billion Stake in Kazakh Field
This article is for subscribers only.
China National Petroleum Corp. plans to pay about $5 billion for a stake in Kazakhstan’s biggest oil field, people with knowledge of the matter said.
CNPC is planning to acquire 8.33 percent in the Kashagan project from state oil company KazMunaiGaz National Co., two of the people said, asking not to be identified before the deal is public. An announcement may be made as soon as next week, two of the people said.